YAHOO [BRIEFING.COM]: The
major equity averages finished mixed as market participants opted to take a
break from the action after stocks had rallied more than 7% during the course
of the three previous sessions. Today's headlines weren't enough to motivate a
follow-up effort.
The ISM Manufacturing Index
improved in November to 52.7 from 50.8 in the prior month. Moreover, it
exceeded the expected reading of 51.0. In contrast, China's PMI Manufacturing
figure decreased to 49.0 in November from 50.4 in October. The eurozone's
reading for November stayed at 46.4.
Domestic construction spending
increased by 0.8% in October, besting the 0.3% increase that had been broadly
expected.
Weekly initial jobless claims
increased from an upwardly revised 396,000 to 402,000 in the face of calls for
a total of 390,000 initial claims.
Retailers and auto makers came
into closer focus today. Retailers offered up their latest same-store sales
results, which proved relatively uninspiring. However, Aeropostale (ARO
16.19, +0.68) fought off a weak start that was owed to the apparel retailer's
disappointing forecast. Even Guess? (GES 29.61, +1.49) scored
a strong gain after traders dismissed its downside forecast.
Auto makers had a mixed
session amid monthly U.S. sales numbers. General Motors (GM
20.96, -0.33) posted a 7% year-over-year increase in U.S. sales for November,
while Ford (F 10.59, -0.01) offered up a 13% increase from the
prior year. Toyota Motor (TM 65.72, -0.19) had an increase of
little more than 2%.
Precious metals encountered
pressure in afternoon trade, causing both gold and silver prices to settle
lower for the session. More specifically, gold surrendered a mid-morning gain
to settle with a 0.6% loss at $1739 per ounce. As for silver, it fell to $32.66
per ounce for a 0.5% loss after it had been up more than 1% this morning.
In the energy complex, oil
prices settled with a 0.1% gain at $100.23 per barrel after oscillating for
most of the session. Natural gas scored a 2.5% gain by settling pit trade at
$3.64 per MMBtu. The move was helped along by bullish inventory data.
Advancing Sectors: Tech +0.6%, Health Care +0.1%
Unchanged: Consumer Discretionary
Declining Sectors: Utilities -0.2%, Industrials -0.2%,
Consumer Staples -0.3%, Telecom -0.4%, Materials -0.6%, Energy -0.7%,
Financials -1.0%DJ30 -25.65 NASDAQ +5.86 NQ100 +0.6% R2K -0.9% SP400 -0.6%
SP500 -2.38 NASDAQ Adv/Vol/Dec 927/1.83 bln/1599 NYSE Adv/Vol/Dec 1203/855
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